Ovunc Kutlu
27 July 2023•Update: 27 July 2023
ISTANBUL
Facebook's parent firm Meta saw its shares jump more than 7% on Thursday, a day after the tech company posted strong quarterly financial results.
Meta stocks were trading at $320.59 per share at 10.50 a.m. EDT for a daily gain of 7.4% after they closed the previous day at $298.57 a share.
They were at $325.35 per share shortly after the opening bell on the Nasdaq for an increase of approximately 9%.
Meta saw its revenue climbing to almost $32 billion for the three months ending June 30, which was an 11% increase from $28.8 billion the same period of last year, according to its financial results statement released late Wednesday.
Net income increased 16% to approximately $7.8 billion, from $6.7 billion, during the same period.
"We continue to see strong engagement across our apps and we have the most exciting roadmap I've seen in a while with Llama 2, Threads, Reels, new AI products in the pipeline, and the launch of Quest 3 this fall," Meta Founder and CEO Mark Zuckerberg said in the statement.
Meta said it expects third-quarter total revenue to be in the range of $32 billion - $34.5 billion.
